ICE BRENT: (U18) Bears Now Need Close.....>

OIL TECHS: ICE BRENT: (U18) Bears Now Need Close Below $76.11

*RES 4: $80.07 - High May 22 

*RES 3: $79.56 - High June 29 

*RES 2: $79.09 - Hourly resistance July 10 

*RES 1: $78.42 - Hourly support July 10 now resistance

*PRICE: $78.09 @ 0430GMT

*SUP 1: $77.35 - Hourly support July 9a 

*SUP 2: $76.81 - Hourly support July 6 

*SUP 3: $76.17 - 55-DMA 

*SUP 4: $76.11 - Low June 27

*COMMENTARY: Topside follow through is lacking which is a concern for bulls

given the significance of the $80.07-50 resistance region and daily studies

correcting from O/B. Bears now look for a close below $76.11 to confirm breaks

of 21 & 55-DMAs, shifting initial focus to $71.12-72.11 where the 100-DMA

($72.04) is situated. Bulls still need a close above $80.50 to reconfirm a

bullish bias and target $87.94 last seen in Oct 2014.